David Henry, CEO of Kimco, describes the Marketplace Fairness Act Written to Help Brick & Mortar Retail
Fresh from victory in the United States Senate, David Henry gives a short but direct description of the Marketplace Fairness Act at ICSC’s RECON 2013. For 15 years now ICSC has been attempting to obtain a balance between internet and brick & mortar retailers.
Nearly 10% of the US population is employed by companies related to the shopping center industry. Even so, internet retailers currently have a huge advantage over brick and mortar retailers by not being required to charge sales tax to out of state customers.
This interview took place in late May 2013. As of this writing in early September 2013, although the Senate has passed the bill, the House has still not voted on it.
This is the first in a series of videos on this topic. In shows to come we will discuss whether the Marketplace Fairness Act is a tax or not; and what hurdles internet retailers will have to face if the bill becomes law.